Yayasan Dewan Perniagaan Melayu Perlis Berhad (YYP) Personal Financing-i Overview

Key Loan Details:

• Loan Type: Unsecured Islamic Financing.
• Financing Amount: From RM3,000 to RM300,000.
• Repayment Tenure: From 12 months to 120 months (up to 10 years).
• Profit Rate:
  • As low as 6.65% p.a. (depending on financing amount and period).

Loan Calculator Example:

• Loan Amount: RM10,000.
• Repayment Period: 2 years.
• Monthly Income: RM5,000.
• Monthly Repayment: RM472.08.
• Profit Rate: 6.65% p.a..

Key Features:

• Shariah-compliant: This loan is Islamic and follows Shariah principles.
• Unsecured Loan: No collateral required.
• No Guarantor Needed: This financing doesn’t require a guarantor.
• High Financing Limit: You can borrow up to RM300,000.
• No Processing Fees: There are no processing fees associated with this loan.

Eligibility Criteria:

• Minimum Age: 20 to 58 years old (Note: Maximum age for PDRM customers is 55 years old).
• Minimum Income: RM1,500/month.
• Employment:
  • Available for Malaysian citizens employed in Government and selected GLCs (Government-Linked Companies) and Statutory Bodies.
  • Must have at least 6 months of permanent employment.
• Minimum Annual Income: RM18,000.
• Additional Criteria:
  • You must not be bankrupt or in the bankruptcy process.
  • Your application must pass YYP’s credit assessment.

Required Documents:

• Certified True Copy:
  • MyKad or PDRM Identification Card.
  • Recent 3 months’ payslips.
• Non-Certified True Copy:
  • Latest bank statement (Salary account / Savings account / Current account for receiving financing).
  • Employment verification letter.
  • Option letter (if applicable).
  • Transfer letter/secondment letter (if applicable).
  • Settlement statement (if applicable).

Fees & Charges:

• Profit Rate: From 6.65% p.a. to 9.99% p.a. (depending on the financing amount and tenure).
• Stamp Duty: 0.5% of the total loan amount.
• Early Termination Fee: RM100.
• Late Payment Fee: 1% of the current outstanding amount.
• Processing Fees: None.

Mode of Payment:

• Salary Deduction Scheme: Your repayments will be made via salary deduction, and if that is not activated, it will be done via Direct Debit or standing instructions.
• If there are any changes to your salary account, you are responsible for informing YYP and providing updated account details.

Additional Benefits:

• Shariah-Compliant Financing: This loan adheres to Islamic principles.
• No Collateral or Guarantor: The loan is unsecured and doesn’t require collateral or a guarantor.
• High Loan Limit: You can borrow up to RM300,000.
• Flexible Repayment Terms: You can choose a repayment period of up to 10 years.

How Soon Can You Receive the Financing?

• Once your documents are complete, and employer verification is successful, you can expect the financing to be transferred to your bank account within 24 to 48 working hours.

Who Can Apply:

• Malaysian citizens aged between 20 to 58 years.
• Employed in the government, selected GLCs, or statutory bodies.
• Must have at least 6 months of permanent employment and earn a minimum of RM1,500/month.

About Yayasan Dewan Perniagaan Melayu Perlis Berhad (YYP):

• YYP is a foundation established under the Companies Act 2016 (registration number: 199201018259). It offers Shariah-compliant financing primarily targeting government employees, GLC staff, and employees of statutory bodies.

This YYP Personal Financing-i is a great option for employees of government bodies and selected organizations looking for a low-profit, unsecured Islamic loan with a high financing limit and flexible repayment terms.